GMAC calls for 'paid-for' dry run of Hips

Stephen Knight, chairman of GMAC-RFC, says the Hips ‘dry run’, announced by the government last week, has got to involve consumers actually paying for the reports, as he argues Hips have so far been under-researched. Knight says: "We applaud the government for trying to protect housebuyers from wasting money on failed property transactions but we are concerned that no-one has fully assessed the potential effect this compulsory 'tax' could have on the UK property market." Knight believes a £600 - £700 “tax” for putting a property onto the market could cause a significant reduction in the f...